Ministry of Trade, Industry and Energy

Korea and U.S. hold Supply Chain & Commercial Dialogue

Trade, Industry and Energy Minister Lee Chang-yang and the U.S. Secretary of Commerce Gina Raimondo held the Korea-U.S. Supply Chain & Commercial Dialogue (SCCD) on April 27 in Washington DC to discuss semiconductors, export controls, robotics and additive manufacturing and attended the ceremony for MOU signing in high-tech areas. date2023-05-01

Minister Lee and Secretary Granholm Commit to Strengthening Clean Energy Cooperation

The Republic of Korea (ROK) Minister of Trade, Industry and Energy Lee Chang-Yang and the United States (U.S.) Secretary of Energy Jennifer M. Granholm met for the ROK-U.S. Ministerial Energy Policy Dialogue (EPD) to strengthen bilateral cooperation on clean energy, climate, and energy security.  The meeting promoted bilateral collaboration across the three pillars of EPD–policies and planning; technologies and research; and commercialization and deployment– in support of the date2023-04-29

Korea and U.S. discuss measures to strengthen energy cooperation

Trade, Industry and Energy Minister Lee Chang-yang and U.S. Secretary of Energy Jennifer Granholm met for the ROK-U.S. Ministerial Energy Policy Dialogue (EPD) on April 27 to strengthen bilateral cooperation on clean energy, climate, and energy security. date2023-04-28

Korea and U.S. to launch special student exchange programs in high-tech areas

The Ministry of Trade, Industry and Energy (MOTIE) announced on April 27 that South Korean President Yoon Suk-yeol and U.S. President Joe Biden agreed to launch a large-scale youth exchange between the two countries in high-tech and science technology. According to the Korea-U.S. leaders’ joint statement issued on April 26, the two countries agreed to pouring USD 30 million each (total $60 million) into launching a special exchange program for 2,023 Korean students and 2,023 U.S. students date2023-04-28

Korea's retail industry grows 6.4% in March

The Ministry of Trade, Industry and Energy (MOTIE) announced on April 25 that Korea’s retail sales in March achieved an overall growth of 6.4 percent, year-on-year. Offline and online sales both expanded, by 6.6 percent and 6.1 percent, respectively. The Ministry releases monthly retail sales figures based on surveys of 25 major retailers. Thirteen of them are brick-and-mortar retailers: three department store chains, three hypermarket chains, three convenience store chains, and four &ld date2023-04-27

Korea and U.S. sign 23 MOUs for high-tech, hydrogen & SMR cooperation

Trade, Industry and Energy Minister Lee Chang-yang attended the “Korea-U.S. High-Tech Industry & Clean Energy Partnership” MOU signing ceremony on April 25 at Waldorf Astoria Washington DC where a total of 23 MOUs were signed for stronger forward-looking Korea-U.S. high-tech cooperation.   Minister Lee gave an opening message and attended the MOU signing ceremony in which 23 MOUs were signed for cooperation in 10 high-tech industry areas (battery, bio, autonomous vehi date2023-04-27

Korea and U.S. sign 23 MOUs for high-tech, hydrogen & SMR cooperation

The Ministry of Trade, Industry and Energy (MOTIE) announced on April 26 that on the occasion of South Korean President Yoon Suk-yeol’s state visit to the U.S., the two countries held a “Korea-U.S. High-Tech Industry & Clean Energy Partnership” memorandum of understanding (MOU) signing ceremony on April 25 at Waldorf Astoria Washington DC and signed a total of 23 MOUs for stronger forward-looking Korea-U.S. high-tech cooperation. The 23 MOUs were signed for cooperation in date2023-04-27

MOTIE announces U.S. firms will invest $1.9 bil. in Korea's chips, hydrogen & green businesses

The Ministry of Trade, Industry and Energy (MOTIE) announced on April 26 that on April 25 at the American Chamber of Commerce in Korea (AmCham), on the occasion of President Yoon Suk-yeol’s state visit to the U.S., six U.S. firms agreed to invest a total of USD 1.9 billion in Korea’s hydrogen, semiconductor and eco-friendly businesses. This investment is substantially larger than the formerly $1.2 billion pledged during the North American investors’ roundtable held last Septem date2023-04-26

2nd Vice Minister attends hydrogen bus handover & production base completion ceremony

Trade, Industry and Energy 2nd Vice Minister Park Il-jun attended the ceremony on April 18 at the Incheon Green Energy Shinheung Traffic bus garage held to recognize the hydrogen bus handover and Incheon hydrogen production base completion, where he toured the production and charging facilities and encouraged site workers. In his opening message, Vice Minister Park stated that the recently increased hydrogen bus supply will bring the general public a step closer to hydrogen economy, and that date2023-04-26

Minister Lee discusses measures to raise Korea's potential growth with leading economists

Trade, Industry and Energy Minister Lee Chang-yang chaired a conference with Korea’s leading economists and national policy experts on April 19 at the Plaza Hotel Seoul to discuss measures to secure potential growth for Korea to develop into a leading global economy with respect to labor, capital and total factor productivity.   The conference was attended by a number of professors, economists, and representatives of relevant public institutions, including Lee Seung-heon, Senior Dep date2023-04-25